Renovated Duplex with Large
For Sale
$299,000
92 Dewitt Street, Buffalo, NY 14213
Updated two-unit property with kitchens, new windows, and front and rear porches.
Property Size1,856 SF
Days on Market38
Property Features for 92 Dewitt Street
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,320
Building Details
Building Size
1,856 SF
Year Built
1900
Listing Agency:
Integra Realty LLC
(716) 548-9107
Listed By:
Irina Epstein · License #10491205241
(716) 548-9107
Source:
Highfallssir
Added: Jul 19
Changed: Aug 19
Last Checked: Aug 24 at 1:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Integra Realty LLC
Investment Insights
Based on property information with market context.
This two-unit residential property, built in 1900, has undergone extensive renovation. Improvements include copper and PVC piping, updated electrical panels and circuit breakers, new hot water tanks, new furnaces, flooring, and replacement windows. Both units feature renovated kitchens, while the lower unit includes new appliances.
Outdoor improvements include front and rear porches with rebuilt stairs, along with a large backyard. The property is located near Lafayette Avenue in Buffalo, providing a renovated duplex configuration with updated building systems and refreshed interior spaces.
Outdoor improvements include front and rear porches with rebuilt stairs, along with a large backyard. The property is located near Lafayette Avenue in Buffalo, providing a renovated duplex configuration with updated building systems and refreshed interior spaces.
Key Highlights
- Duplex with renovated kitchens in both units
- Lower unit includes brand‑new appliances
- Updated copper and PVC piping, electrical panels, and circuit breakers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,416
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,320
$368.3K
Cap Rate 7%
$263,086
$263.1K
Cap Rate 9%
$204,622
$204.6K
Market Conditions
NOI Build-Up for 1,856 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.8K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$26.3K $14.17/SF
− OpEx
−$7.9K −$4.25/SF
NOI
$18.4K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,320
Cap Rate 7%
$263,086
Cap Rate 9%
$204,622
Alternative Uses
Best Use
Multifamily LT 5
$263.1K
$230.2K – $306.9K
NOI $18,416 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$242.3K
$212.0K – $282.7K
NOI $16,963 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$446.3K
$390.5K – $520.7K
NOI $31,243 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with kitchens, new windows, and front and rear porches.
Where is this duplex located?
The property is located at 92 Dewitt Street Buffalo, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex with renovated kitchens in both units; Lower unit includes brand‑new appliances; Updated copper and PVC piping, electrical panels, and circuit breakers
